WaveDancer, Inc. ( WAVD ) shares are trading higher Monday after the company announced that both WaveDancer ( WAVD ) and Firefly Neuroscience, Inc. have each received the requisite stockholder approvals required to consummate the merger between both companies.

The Details:

WaveDancer ( WAVD ) said that it obtained stockholder approval at a special meeting of its stockholders held on March 14, and the Firefly approval was obtained through a written consent by the holders of a majority of the outstanding voting shares of Firefly.

“The WaveDancer favorable shareholder vote is an important step in consummating the merger and reinventing WaveDancer ( WAVD ) as an AI-enabled neurological health platform,” said Jamie Benoit, CEO of WaveDancer ( WAVD ). “We thank our shareholders for participating in the vote.”

The company expects the merger to be completed in the second quarter of 2024. WaveDancer ( WAVD ) said the combined company is expected to operate under the name Firefly Neuroscience, Inc., and trade on the Nasdaq Capital Market.

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Should I Sell My WAVD Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of WaveDancer ( WAVD ) have decreased by 40.41% in the past year. An investor who bought shares of WaveDancer ( WAVD ) at the beginning of the year would make a profit of $2.01 per share if they sold it today. The stock has risen 68.35% over the past month, meaning an investor who bought shares on Feb. 1 would see a capital gain of $1.22.

WaveDancer ( WAVD ) shares have an all-time high of $58.5, representing 1494.01% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. WaveDancer ( WAVD ) stock currently has an RSI of 85.69, indicating overbought conditions.

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WAVD Price Action: According to Benzinga Pro, WaveDancer ( WAVD ) shares are up 17.9% at $3.62 at the time of publication.

Image: Kanenori from Pixabay